Kiera invested $43,608 in a mutual fund that paid $432.96 in interest at the end of the year. What was the percent of interest Kiera earned from her initial investment?
I need to know how to come up with the answer of 1%.
A percentage is just a ratio - which means fraction. If you divide $432.96 into $43 608 and then multiply by one hundred, you will get the percentage interest Kiera earned.
Hope this helps,